is ir bearish head and shoulder or qm or non ? just let us know dadycoin i am noob do not follow me
Intra-day price movement (for each previous Fed Meeting) follows a pattern of green-red-red. Next in line is red. Between-meetings price movement follows a green-red-green-red pattern. Next in line is red. Also, where did everyone hear from that Fed is going to pivot and so on? Why wouldn't they stick to the plan? Some will be surprised when +75bps shows up tomorrow! NFA.
This is for my personal record, I am a very bad trader so please don't take this as financial advice, you would not make profit.
Looking at 1H TF, It seems that we have a hidden bearish divergence in the chart. Supporting the hidden bearish divergence is the bearish butterfly pattern as well. We might go down back to 0.0157 and from there we will bounce very high for long term.
Bullish butterfly pattern appearing at 1H TF. We might bounce back again back to 0.0172 and retest the resistance. There is also a chance of a dip due to another hidden bearish divergence in the chart. If RSI goes below the green line then we might dip to 0.0155 or lower. As long as we stay above the green line in the RSI levels, SLP is still bullish.
In the 15M TF, we have a bullish falling wedge pattern which is going to be bullish for SLP in the long term. Right now, we have a hidden bearish divergence in 15M TF where we might dip to 0.0165 and we might bounce from that area back to 0.0174. If the candle closes above 0.0174, we might go higher up to 0.0191. There is also a possible dip lower than 0.0165...
FOREXCOM:CADJPY I marked the pitchfork from the pivots on the weekly chart from June, September, and October. Confirmed with the Daily RSI and the Daily chart. It's very slight but there appears to be a bearish divergence on the RSI. I've only started dabbling in RSI divergences so I wouldn't consider this a confirmation, but it's worth noting. After...
I opened this last night. The RSI was oversold on the Daily and based on the previous trend I judged it would go bullish. I plan to hold for at least a week.
There are a couple ways EURGBP could play out. It still has some room to go down judging from the RSI. If it tests the bottom of the larger pitchfork and start moving higher I will enter a long position with a tight stop loss.
USDJPY is still playing out as I expected. I will wait to see the D RSI to be oversold before entering a long position at the bottom of the pitchfork.
I entered a short on EURUSD after reviewing the overall trend, H4, and H1 charts with RSI. I think there's a lot of room for it to run here as long as I don't get stopped out first.
I'm watching USDJPY to test a couple S/R levels before returning towards the median line. The D RSI is not where I want it to be yet to open a long so I'll keep watching and maybe update this idea tomorrow.
Watching for a confirmation on the H4 and H1 for a good entry. After a few losses I started to solidify my system and the confirmations I'm looking for. -Set the pitchfork on the Daily chart and Weekly RSI -Does the trade coincide with the higher time frame trend? (If no then no trade) -Is the trade returning to the median line (If no then no trade) -Will the...
I entered a short on USDCAD after reviewing the RSI. I have a partial TP at the Median Line that will trigger auto Break Even.
I marked a large support zone from a weekly line chart and a small resistance zone above the current price. The H4 RSI makes me want to wait for the price to test the resistance zone before a retrace back to the centerline that the D indicates is in the cards.
Following the pitchfork down. RSI - I started putting the Daily and 4H RSI on every time frame. I think it's much clearer seeing the long term swings on the 1H and 4H time frames.